I.L English, Miss Ricketts
The Great Depression
The great depression began in October 1929. The great depression was the day that the stock market crashed in America. The great depression massively affected EVERYONE, both rich and poor. There was no hope of recovery from the great depression, as it was such a major blow in America's economy. International trade plunges by more than 50%. During the great depression, unemployment in America rose to 25%, in some countries as much as 33%. The banks were forced to close. Around this time, the stock market was the surest way to get rich, but during the great depression had become the path to bankrupsy. Some economies recovered by the mid 1930's however, some countries didn't recover until after World War II.
The Wall Street Crash
The roaring 20's was a period of prosperity for most Americans. As the economy grew, stock prices soared. As many as 25 million Americans had placed money in the stock market in order to share in the weath. The best part was that you didn't need a lot of cash to join in. It is estimated that by 1929, the total debt reached bby the practice had reached 6 billion dollars. The wall Street crash was in October 1929. The word economy was plunged into a great depression (The great depression). By the winter of 1932, America was in the depths of it's greatest economic depression in its' history. Leaving 13 Million people unemployed.
The plight of American workers in the 1930's
The plight of American Workers, was during the great depression. 1.3 million people migrated to California during the great depression. California had a population of 5.7 million. All classes of workers were affected by the great depression. Most people resorted to farming, but even doing farm work turned out harder to find than they expected. The unemployment rate of American citizens was 25% for white people and 50% for black people.
The American Dream
The American dream was all about 'Keeping the dream alive', and that even though they are struggling, they could still hope. The American dream refers to the supposed freedom that allows all American citizens to pursue their dreams in life. They promise that their dreams and goals in life will happen, and they WILL get there through sheer hard work. This includes the opportunity to send ones child to grow up receiving an education. If they work hard during this difficult time in America, can achieve their goals. The American dream also refers to the immigrants to achieve greater material prosperity than was possible in their countries of origin.